Govt to settle taxation issue for gross split scheme soon

The government is finalizing a rule on the tax treatment of a new production-sharing contract (PSC) to boost the attractiveness ofthe upstream oil and gas sector, which has seen Hagging investor interest.

The new PSC, called the gross split scheme, requires investors to bear exploration and production costs instead of being reimbursed by the government, as under the older cost recovery scheme, Earlier this week, the government passed a similar rule on tax arrangements for the previous model.

Business players have complained about the absence of clear guidelines for taxation in the gross split scheme, despite its first application to the Offshore Northwest Java (ONWJ) oil and gas block.

“To some degree, there'will be a special treatment of oil and gas contractors using gross split [contracts], as general tax rules can’t be applied to them,” Deputy Energy and Mineral Resources Minister Arcandra Tahar told reporters on Wednesday.

“We have prepared the draft, and hopefully the Government Regulation [PP/GR] can be issued this month.”

EAST KALIMANTAN BLOCK

Arcandra added that the new PP would be comparable with PP No. 27/2017 for the cost recovery scheme. The newly passed regulation stipulates that the Energy and Mineral Resources Minister is authorized to set the sliding scale split in a PSC and to grant investors exemption from the domestic market obligation (DMO) with the approval of the Finance Minister. 

Furthermore, during the exploration phase, contractors under the cost recovery scheme will be exempted from import duties. Value-added tax (PPN) and luxury tax (PPnBM) will also be scraped for certain supporting goods and services. Contractors can still enjoy these incentives during the exploitation phase after a thorough evaluation from the Finance Ministry.

Arcandra was upbeat that the new tax regulation would provide a clearer calculation for contractors planning to use the gross split scheme, whether in new or extension projects. The government has instructed state-owned energy giant Pertamina to take over eight oil and gas blocks with expired concessions, which are to be handed over next year. These include blocks in Tuban, Ogan Komering and East Kalimantan.

Pertamina upstream director Syamsu Alam, however, said that based on the company’s assessment, the East Kalimantan block was not economically feasible, as Pertamina would have to pay for the abandonment and site restoration (ASR) of the block. Therefore, it had requested another three months to evaluate the block. 

“The ASR obligation significantly reduces the economic value ofthe block,” he said. However, Arcandra said that, unlike the previous practice, the price of oil and gas allocated for the DMO from those eight blocks would follow the market price.

Jakarta Post, Page-14, Thursday, July 6, 2017

East Kalimantan Block Requested Returned to the Country

The government advises PT Pertamina to immediately return East Kalimantan Block to the country if it is not economical. Therefore, the government can immediately re-auction the block offshore of East Kalimantan.

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said the production sharing contract (PSC) of gross split schemes could be applied economically to seven termination blocks assigned to Pertamina. Only, this contract does not seem workable in East Kalimantan Block.

"So for the East Kalimantan Block, we recommend that if it is not economical, directly returned to the government," he said in Jakarta, Wednesday (5/7).

He said that until now, the evaluation of the implementation of gross split contract in East Kalimantan Block is still running. One of the uneconomical causes of East Kalimantan Block management is the abandonement and site restoration (ASR) of old contracts. This ASR burden turned out to be quite large.

"What is East Kalimantan Block how many platforms is it? On the offshore, there are many, "said Arcandra.

BLOCK EST KALIMANTAN 

Upstream Director of Pertamina Syamsu Alam revealed, it requested additional time until September to evaluate East Kalimantan Block. This is because the ASR block load off the East Kalimantan coast reaches billions of Dollars, causing the economy of the block to be significantly reduced.

"Because ASR is large enough to cause the economy down there a lot," he said.

If without ASR load, the implementation of gross split contract in East Kalimantan Block is still quite good. However, when it simulates the implementation of cost recovery PSC with ASR load, the block's economy becomes quite heavy. In fact, the added 5% split adds will not help.

"Stay heavy (economic)," said Alam.

BLOCK EST KALIMANTAN

However, Arcandra said, there is no need to wait until September to determine the fate of the East Kalimantan Block. The reason, need a quick decision to ensure the management of this block in the future. East Kalimantan Block itself will end on October 24, 2018. The government wants to immediately auction off this block if it is not economical for Pertamina.

"I suggest, straight away, so black and white. So we in the future have a better plan, "he asserted.

He is optimistic the East Kalimantan Block is not necessarily uneconomical for other companies. As is known, the obligation to set aside ASR funds will be applied to new oil and gas contracts. As for the old contracts such as East Kalimantan Block, it is not required to set aside post-mining funds. 

     In fact, it takes a lot of money to clean up the rest of the mine, including technical planning costs, licensing fees and regulatory compliance, well closing costs (other than exploration wells), demolition costs, transportation costs, storage costs, and area recovery costs.

IN INDONESIA

Blok East Kalimantan Diminta Dikembalikan ke Negara

Pemerintah menyarankan PT Pertamina untuk segera mengembalikan Blok East Kalimantan ke negara jika memang tidak ekonomis. Sehingga, pemerintah bisa segera melelang ulang blok di lepas pantai Kalimantan Timur ini.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar menuturkan, kontrak kerja sama (production sharing contract/ PSC) skema bagi hasil kotor (gross split) dapat diterapkan secara ekonomis untuk tujuh blok terminasi yang ditugaskan ke Pertamina. Hanya saja, kontrak ini sepertinya tidak workable dipakai di Blok East Kalimantan.

“Jadi untuk yang Blok East Kalimantan, kami menyarankan, kalau seandainya tidak ekonomis, langsung dikembalikan ke pemerintah,” kata dia di Jakarta, Rabu (5/7).

Dikatakannya, sampai saat ini, evaluasi penerapan kontrak gross split di Blok East Kalimantan memang masih berjalan. Salah satu penyebab tidak ekonomisnya pengelolaan Blok East Kalimantan ini yakni adanya beban dana pasca tambang (abandonement and site restoration/ASR) dari kontrak lama. Beban ASR ini ternyata cukup besar.

“Yang Blok East Kalimantan ini berapa banyak platform-nya? Di offshore-nya, ada banyak,” ujar Arcandra.

Direktur Hulu Pertamina Syamsu Alam mengungkapkan, pihaknya meminta tambahan waktu hingga September nanti untuk mengevaluasi Blok East Kalimantan. Hal ini lantaran beban ASR blok di lepas pantai Kalimantan Timur ini mencapai miliaran Dolar, yang menyebabkan keekonomian blok tersebut berkurang signifikan.

“Karena ASR-nya cukup besar sehingga menyebabkan keekonomian di situ turun banyak,” kata dia.

Jika tanpa beban ASR, penerapan kontrak gross split di Blok East Kalimantan masih cukup bagus. Namun ketika pihaknya melakukan simulasi penerapan PSC cost recovery dengan beban ASR, keekonomian blok tersebut menjadi cukup berat. Bahkan, tambahan split 5% disebutnya tidak akan membantu.

“Tetap berat (keekonomiannya) ,” tutur Alam.

Namun, Arcandra menyatakan, tidak perlu harus menunggu sampai September untuk menentukan nasib Blok East Kalimantan ini. Pasalnya, butuh keputusan cepat untuk memastikan pengelolaan blok ini ke depannya. Kontrak Blok East Kalimantan sendiri akan berakhir pada 24 Oktober 2018. Pemerintah ingin segera melelang blok ini jika memang tidak ekonomis bagi Pertamina.

“Saya menyarankan, langsung saja, jadi black and white. Sehingga kami ke depannya punya rencana lebih bagus,” tegas dia. 

Dia optimis Blok East Kalimantan belum tentu tidak ekonomis bagi perusahan lain. Seperti diketahui, kewajiban menyisihkan dana ASR akan diberlakukan untuk kontrak migas baru. 

     Sementara untuk kontrak lama seperti Blok East Kalimantan, tidak diwajibkan menyisihkan dana pasca tambang. Padahal, dibutuhkan banyak biaya untuk membersihkan sisa tambang minya, di antaranya biaya perencanaan teknik, biaya perizinan dan kepatuhan terhadap peraturan, biaya penutupan sumur (selain sumur eksplorasi), biaya pembongkaran, biaya transportasi, biaya penyimpanan, dan biaya pemulihan area.

Investor Daily, Page-9, Thursday, July 6, 2017

Government to issue tax rules on Gross Split

The government plans to issue a regulation detailing the taxes imposed for production sharing contract (PSC) of gross split schemes. This regulation is targeted to be published later this month.

Deputy Minister of Energy and Mineral Resources (ESDM) said the issuance of special tax regulation for PSC gross split is based on the proposed Indonesian Petroleum Association (IPA). The association of oil and gas companies in Indonesia stated that there is a need for a regulation similar to Government Regulation No. 79/2010, but specifically for gross split contracts, not cost recovery.

 "So for that, the draft rules already exist. We hope this month can come out, "he said in Jakarta, Wednesday (5/7).

Unfortunately, Arcandra reluctant to detail the contents of the new rules. He just mentioned, this new rule will not be much different from the newly revised PP 79/2010. Similar to regulation cost recovery, the regulation for gross split will also contain special tax treatment for the oil and gas sector. However, this new regulation also will not contain provisions Assume and Discharge.

However, adding that not all points in PP 79/2010 will be incorporated into the new rules for the gross split contract. "The only thing is cost recovery, another gross split. There are items that are only applicable for cost recovery, there is items that are applicable for gross split, "he explained.

Since ESDM Minister Regulation No. 8 of 2017 which regulates the implementation of gross split contracts at the beginning of the year, IPA has voiced the need for tax laws that support this regulation. 

    The reason, Executive Director of IPA Marjolijn Wajong had said, the view of the Ministry of Energy and Mineral Resources and the Ministry of Finance is not the same about the tax regulations to be followed. Though taxation is an important factor that must be calculated by investors when it will spend the funds.

Investors can not be convinced just by words. The government must make efforts so that investors will be comfortable investing in upstream oil and gas sector with gross split contract.

"So many who need synergy and synchronization. This means that if the rules out, make sure the ministry Iain sound the same, "he said.

Since the issuance of Regulation of the Minister of Energy and Mineral Resources 8/20 2016, there is only one oil and gas block whose contract is signed using the gross split scheme, Offshore North West Java (ONWJ) Block managed by PT Pertamina Hulu Energi. The share of government revenue compared to the block contractors is 32.5: 62.5 for gas and 42.5: 57,5 ​​for oil.

IN INDONESIA

Pemerintah Bakal Terbitkan Aturan Pajak Gross Split

Pemerintah berencana menerbitkan peraturan yang merinci pajak-pajak yang diberlakukan untuk kontrak kerja sama (production sharing contract/ PSC) skema bagi hasil kotor (gross split). Peraturan ini ditargetkan bisa diterbitkan akhir bulan ini.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) mengatakan, diterbitkannya peraturan perpajakan khusus untuk PSC gross split ini berdasarkan usulan Indonesian Petroleum Association (IPA). Asosiasi perusahaan-perusahaan migas di Indonesia itu menyatakan perlunya adanya peraturan sejenis Peraturan Pemerintah No 79 Tahun 2010, namun khusus untuk kontrak gross split, bukan cost recovery.

 “Maka untuk itu, draft peraturannya sudah ada. Kami harapkan semoga bulan ini bisa keluar,” kata dia di Jakarta, Rabu (5/7).

Sayangnya, Arcandra enggan merinci isi dari peraturan baru tersebut. Dia hanya menyebut, peraturan baru ini tidak akan jauh berbeda dengan PP 79/2010 yang baru saja direvisi. Sama dengan aturan cost recovery, peraturan untuk gross split ini juga akan memuat perlakuan perpajakan khusus untuk sektor minyak dan gas. Hanya saja, peraturan baru ini juga tetap tidak akan memuat ketentuan Assume and Discharge. 

Meski demikian, ditambahkannya tidak semua poin yang ada di PP 79/2010 akan dimasukkan ke dalam peraturan baru untuk kontrak gross split tersebut. “Satunya adalah cost recovery, satu lagi gross split. Ada item yang hanya applicable untuk cost recovery, ada item yang applicable untuk gross split,” jelasnya. 

Sejak Peraturan Menteri ESDM No 8 Tahun 2017 yang mengatur soal penerapan kontrak gross split terbit pada awal tahun, IPA telah menyuarakan perlunya akan peraturan perpajakan yang menyokong peraturan ini. 

    Pasalnya, Direktur Eksekutif IPA Marjolijn Wajong sempat menuturkan, pandangan Kementerian ESDM dan Kementerian Keuangan tidak sama soal peraturan perpajakan yang harus diikuti. Padahal perpajakan merupakan faktor penting yang harus dihitung oleh investor ketika akan mengeluarkan dana.

Investor tidak bisa diyakinkan hanya dengan kata-kata. Pemerintah harus melakukan upaya-upaya agar akhirnya investor nyaman berinvestasi di sektor hulu migas dengan kontrak gross split.

“Jadi banyak yang butuh sinergi dan sinkronisasi. Artinya kalau keluar aturan, pastikan kementerian Iain bersuara sama,” kata dia.

Sejak diterbitkannya Peraturan Menteri ESDM 8/ 2016, hanya ada satu blok migas yang kontraknya diteken menggunakan skema gross split, yakni Blok Offshore North West Java (ONWJ) yang dikelola PT Pertamina Hulu Energi. Pembagian bagi hasil pemerintah dibanding kontraktor blok ini ditetapkan 32,5:62,5 untuk gas dan 42,5:57,5 untuk minyak. 

Investor Daily, Page-9, Thursday, July 6, 2017

Pertamina & Total Sit together to discuss the distribution of Shares

PT Pertamina will drill up to 15 wells in the Mahakam Block to boost production

PT Pertamina confirmed that next week it will discuss the Mahakam Block shareholding with PT Total EP Indonesie plan. Upstream Director of Pertamina, Syamsu Alam said that the discussion next week was more technical. "If you want to enter what kind, what kind of mechanism," said Syamsu, Wednesday (5/7).

Meanwhile, the value of the share down share value in the block will not be discussed. So also with the amount of share down that will be transferred to Total EP. As is known, the Minister of Energy and Human Resources Sudirman Said then, in 2015 decided to make room for Pertamina to share down maximum 30% in Mahakam Block to Total EP.

Lately, however, Total E & P Indonesie has sent a letter to the Minister of Energy and Mineral Resources Ignatius Jonan asking for a share down in Mahakam Block of 39% from the previous 30%, First Tranche Petroleum (FTP) to 0%, from the usual 20% of gross investment credit 20 %.

Then Total EP requested the acceleration of the depreciation period from five years to two years. Last Total EP is willing to pay a signature bonus of about US $ 13 million from the amount of US $ 41 million. It's on record, can get 39% stake. Related demand share down to 39%, Syamsu did not want to comment much.

MAP OF MAHAKAM BLOCK

Pertamina is still referring to the previous Letter of Minister of Energy and Mineral Resources (Sudirman Said), "said Syamsu Alam. Five demand of Total EP including the addition of share down to 39% until now has not been answered by Jonan. Although the addition of shares is the blessing of Minister of Energy and Mineral Resources on March 13, 2017 through the release official.

Another problem is, there is no clarity of investment fund of East Kalimantan Province Government (Kaltim) to be paid for Mahakam operation. Whether it will be borne by Pertamina entirely or charged to Total EP as well. Because with Participating Interest 10% to East Kalimantan, the initial funding deposit for investment is very large, from the total investment of around Rp 12 trillion-20 trillion per year.

The total EP letter letter, spokesman of the ESDM Ministry Sujatmiko also can not be sure when it will be answered.

Ready to drill Mahakam

While Syamsu said, in mid-July it will begin drilling wells funded by Pertamina. Until the end of the year, Pertamina plans to finance the drilling of 14-15 wells in the Mahakam block. 

      With the additional drilling expected, the Mahakam Block production is stable at about 1 billions of standard cubic feet (bcf) or it can increase from the current Mahakam Block gas production of 1.2 bcf.

Fahmi Radhi, an energy observer at Gajah Mada University, said that Pertamina is able to manage independently and even increase production. "Technology can be bought, experts can be hired, investment needs to be sought because the gas content of Mahakam is still big," he said.

Worker Total EP Change Clothes

     Starting January 1, 2018, Total EP workers totaling about 2,000 will change their clothing to employees of PT Pertamina Hulu Mahakam. On June 13, 2017, the National Workers Union of Total EP lndonesie had a meeting with Pertamina's Senior Vice President Human Resources (HR).

    Budi Satria, Chairman of the National Workers Union Total EP Indonesia, writes, all workers get a work offer letter from Pertamina Hulu Mahakam. Previously the Union of Workers was involved in the drafting of the work offer and the suitability of the text editor before it was given to SKK Migas and approved by the Ministry of Manpower.

"We are instructed to read and evaluate the work offer letter," Budi said.

    All of the Total EP workers have submitted a work offer letter from Pertamina Hulu Mahakam.

"We have signed autographs, just lacking the signature of HR Pertamina They get, we also get, January 1, 2018 we become Pertamina Hulu Mahakam".


    The facility or salary is the same as in Total EP "Includes the current position.

IN INDONESIA

Pertamina & Total Duduk Bersama Membahas Pembagian Saham

PT Pertamina akan mengebor hingga 15 sumur di Blok Mahakam untuk menaikkan produksi

PT Pertamina memastikan, pekan depan akan membahas rencana pengurangan kepemilikan saham (share down) Blok Mahakam dengan PT Total EP Indonesie. Direktur Hulu Pertamina, Syamsu Alam menyatakan pembahasan pekan depan itu lebih kepada soal teknis. "Kalau mau masuk seperti apa, mekanismenya seperti apa," jelas Syamsu, Rabu (5/7).

Sementara terkait nilai valuasi porsi share down di blok tersebut belum akan dibahas. Begitu juga dengan besaran share down yang akan dialihkan ke Total EP. Seperti diketahui, Menteri Energi dan Sumber Daya Manusia Sudirman Said ketika itu, pada tahun 2015 memutuskan memberi ruang bagi Pertamina melakukan share down maksimal 30% di Blok Mahakam ke Total EP.

Namun belakangan, Total E&P Indonesie telah mengirimkan surat kepada Menteri ESDM Ignasius Jonan agar meminta share down di Blok Mahakam sebesar 39% dari sebelumnya 30%, First Tranche Petroleum (FTP) menjadi 0%, dari yang biasanya 20% dari produksi kotor investment credit 20%. 

Lalu Total EP meminta percepatan masa depresiasi dari lima tahun menjadi dua tahun. Terakhir Total EP bersedia membayar bonus tandatangan sekitar US$ 13 juta dari jumlah US$ 41 juta. Ini dengan catatan, bisa mendapatkan 39% saham. Terkait permintaan share down menjadi 39% itu, Syamsu tidak mau banyak berkomentar. 

Pertamina masih mengacu pada Surat Menteri ESDM sebelumnya (Sudirman Said)," ujar Syamsu Alam. Lima permintaan Total EP termasuk penambahan share down menjadi 39% hingga kini belum dijawab oleh Jonan.  Padahal penambahan saham itu adalah restu Menteri ESDM pada 13 Maret 2017 melalui rilis resmi.

Masalah lain adalah, belum ada kejelasan dana investasi Pemerintah Propinsi Kalimantan Timur (Kaltim) yang harus disetorkan untuk operasional Mahakam. Apakah nanti akan ditanggung Pertamina seluruhnya atau dibebankan ke Total EP juga. Sebab dengan Participating Interest 10% ke Kaltim, setoran dana awal untuk investasi sangat besar, dari total investasi sekitar Rp 12 triliun-20 triliun per tahun.

Soal surat Total EP, Juru bicara Kementerian ESDM Sujatmiko juga belum bisa memastikan kapan akan akan dijawab. 

Siap ngebor Mahakam 

Sementara Syamsu bilang, pada pertengahan bulan Juli ini akan mulai dilakukan pemboran sumur yang didanai oleh Pertamina. Hingga akhir tahun Pertamina berencana membiayai pengeboran 14-15 sumur di Blok Mahakam. 

     Dengan tambahan pengeboran tersebut diharapkan, produksi Blok Mahakam stabil sekitar 1 billions of standard cubic feet (bcf) atau bisa meningkat dari produksi gas Blok Mahakam saat ini yang mencapai 1,2 bcf.

Fahmi Radhi Pengamat Energi Universitas Gajah Mada, mengatakan Pertamina mampu mengelola secara mandiri bahkan menaikkan produksi. "Teknologi bisa dibeli, tenaga ahli bisa disewa, butuh investasi bisa dicari karena kandungan gas Mahakam masih besar," kata dia.

Pekerja Total EP Ganti Baju

     Mulai 1 Januari 2018, pekerja Total EP yang berjumlah sekitar 2.000 akan berganti baju menjadi karyawan PT Pertamina Hulu Mahakam. Pada 13 Juni 2017 lalu, Serikat Pekerja Nasional Total EP lndonesie sudah melakukan pertemuan dengan Senior Vice President Human Resources (HR) Pertamina.

Budi Satria, Ketua Umum Serikat Pekerja Nasional Total EP Indonesia, menulis, seluruh pekerja mendapatkan surat penawaran kerja dari Pertamina Hulu Mahakam. Sebelumnya Serikat Pekerja dilibatkan dalah penyusunan draf penawaran kerja dan kesesuaian redaksi naskah sebelum diberikan ke SKK Migas dan disetujui Kementerian Tenaga Kerja. 

"Kami instruksikan agar membaca dan mengevaluasi Surat penawaran kerja itu," kata Budi.

Semua pekerja Total EP sudah menyerahkan surat penawaran kerja Pertamina Hulu Mahakam. 

"Kami sudah tanda tangan, hanya kurang tandatangan HR Pertamina. Mereka mendapatkan, kami juga mendapatkan, 1 Januari 2018 kami menjadi Pertamina Hulu Mahakam" .


Fasilitas atau gaji sama seperti di Total EP "Termasuk jabatan saat ini.

Kontan, Page-14, Thursday, July 6, 2017

The Abadi Field Project in Masela Block Begins Starting

One year and three months stopped operations, the Masela Field Abadi project started showing signs of resuming. Vice President of Corporate Services of lnpex Corporation Nico Muhyiddin said that Inpex, as the operator of Masela Block, has obtained an official letter from the government to hold pre front end engineering design (feed).

To start the pre feed, lnpex is conducting a market survey. In the survey simultaneously conducted a study and data collection of prospective buyers of gas produced by Masela Block later. In addition, Inpex mapping technically, commercially and socially. It is expected that the whole process can be completed soon.

"Market surveys have to be completed this month," said Nico, Wednesday (6/7).

MAP OF MASELA BLOCK, WORKING AREA INPEX JAPAN

After the market survey is completed, Inpex will proceed to the bidding process by direct appointment, This is in accordance with the provisions of the 007 Revision 4 Working Guidelines.

"Inpex will follow the 007 Revision Workflow Guidelines that will be effective July 28," Nico said.

If the winning bidder has been obtained, Inpex can start a pre feed, which is targeted this year as well. Previously lnpex has proposed five clauses of Masela block project work. Namely, the addition of LNG plant capacity from 7.5 million tonnes per annum (MTPA) to 9.5 MTPA, 10-year contract addition, 15% internal rate of return, cost recovery during exploration and licensing from the government.

IN INDONESIA

Proyek Lapangan Abadi di Blok Masela Mulai Berjalan

Satu tahun tiga bulan berhenti beroperasi, proyek Lapangan Abadi Blok Masela mulai menunjukkan tanda-tanda dimulai lagi. Vice President Corporate Service lnpex Corporation Nico Muhyiddin mengatakan, Inpex selaku operator Blok Masela sudah mendapatkan Surat resmi dari pemerintah untuk menggelar pre front end engineering design (feed).

Untuk memulai pre feed, lnpex sedang melakukan survei pasar. Dalam survei tersebut sekaligus dilakukan Studi dan pengumpulan data calon-calon pembeli gas hasil produksi Blok Masela nanti.  Selain itu, Inpex melakukan pemetaan secara teknikal, komersial dan sosial. Diharapkan seluruh proses ini bisa selesai segera. 

"Survei market sudah harus selesai bulan-bulan ini," tegas Nico, Rabu (6/7). 

Setelah survei market selesai, lnpex akan melanjutkan ke proses tender dengan penunjukkan langsung, Hal tersebut sesuai ketentuan dalam Pedoman Tata Kerja 007 Revisi 4. 

"lnpex akan mengikuti Pedoman Tata Kerja 007 revisi yang akan efektif 28 Juli nanti," ujar Nico. 

Jika perusahaan pemenang tender sudah didapat, Inpex bisa memulai pre feed, yang targetnya tahun ini juga. Sebelumnya lnpex telah mengajukan lima klausul pengerjaan proyek blok Masela. Yakni penambahan kapasitas kilang LNG dari 7,5 million tonnes per annum (MTPA) menjadi 9,5 MTPA, penambahan kontrak selama 10 tahun, internal rate of return 15%, cost recovery selama masa eksplorasi dan perizinan dari pemerintah.

Kontan, Page-14, Thursday, July 6, 2017

East Kalimantan Block Can Be Returned

GROSS SPLIT SCHEME

The government recommends that PT Pertamina return the East Kalimantan Block to the government if management with a gross profit sharing scheme is less favorable to the company.

Since the beginning of this year, the government has reimbursed revenue-sharing schemes with production costs returned to contractors or cost recover with gross split for new contracts. Meanwhile, for the existing contracts still use the cost recovery scheme.

Through a gross split sharing scheme, oil and gas production costs are borne by contracting contractors. In January 2017, the Minister of Energy and Mineral Resources (EMR) lgnasius Jonan commissioned Pertamina to take over eight working areas which would expire its contract with a gross profit sharing scheme regulated in Minister of Energy and Mineral Resources Regulation no. 8/2017.

Map of  East Kalimantan Block

The eight working areas are Tuban-East Java (JOB Pertamina-PetroChina East Java), Ogan Komering-South Sumatra Block (JOB Pertamina Talisman), Sanga-Sanga-East Kalimantan Block (Saka Energi); Southeast Sumatra Block (SES) -Lampung (CNOOC SES Limited); East-Kalimantan Block (Total E & P Indonesie); East-Kalimantan Attaka Block (Chevron), East Kalimantan-East Kalimantan (Chevron Indonesia Company) Block and North Sumatera Offshore-Aceh (Pertamina) Block.

Map of  East Kalimantan Block

EMR Deputy Minister of Energy and Mineral Resources, Arcandra Tahar, said that instead of adding time for the next 3 months, he suggested that the company immediately return the East Kalimantan Block if its development is not considered to be economically viable.

Map of Working Area Exxon Mobil and JOB-PPEJ 

According to him, the ESDM Ministry has just received a letter of proposal from Pertamina two weeks ago. Currently, his side has not given a formal answer to the company.

"So for the East Kalimantan, we suggest that if it is not economical, directly returned to the government," he said on Wednesday (5/7).

If Pertamina immediately returns East Kalimantan Block, the government will immediately conduct an auction in order to attract other interested business actors. Meanwhile, the offshore working area will end its contract period on October 24, 2018. Since early 2016, Chevron as operator has stated it will not renew the contract.

"Because time is very tight, we want, if not economical, we speed up the auction."

Earlier, Upstream Director of Pertamina Syamsu Alam said it had submitted the results of a study on the development of seven working areas that would expire and become a gross split contract.

The transition from the cost recovery contract to gross split resulted in the contractor being no longer able to get a return on operating costs. That way, all expenses incurred to be borne by the contractor and the revenue share set by the government have accommodated all possible costs.

The Company proposes additional review period for 3 months. If the government agrees, the company will review East Kalimantan's economic development. However, if the government does not agree, it returns East Kalimantan.

"The extension of our 3-month study from June to September has been delivered."

IN INDONESIA

Blok East Kalimantan Bisa Dikembalikan

Pemerintah menyarankan agar PT Pertamina mengembalikan Blok East Kalimantan kepada pemerintah bila pengelolaan dengan Skema bagi hasil kotor atau gross split kurang menguntungkan perseroan.

Sejak awal tahun ini, pemerintah mengganti skema bagi hasil dengan biaya produksi yang dikembalikan kepada kontraktor atau cost recover dengan gross split untuk kontrak baru. Sementara itu, bagi kontrak eksis tetap menggunakan skema cost recovery.

Melalui skema bagi hasil gross split, biaya produksi migas ditanggung oleh kontraktor kontrak kerja sama. Pada Januari 2017, Menteri Energi dan Sumber Daya Mineral (ESDM) lgnasius Jonan menugaskan kepada Pertamina untuk mengambil alih delapan wilayah kerja yang akan habis masa kontraknya dengan skema bagi hasil kotor yang diatur dalam Peraturan Menteri ESDM No. 8/2017.

Kedelapan wilayah kerja tersebut yakni Blok Tuban-Jawa Timur (JOB Pertamina-PetroChina East Java), Blok Ogan Komering-Sumatra Selatan (JOB Pertamina Talisman), Blok Sanga-Sanga-Kalimantan Timur (Saka Energi); Blok Southeast Sumatera (SES)-Lampung (CNOOC SES Limited); Blok Tengah-Kalimantan Timur (Total E&P Indonesie) ; Blok Attaka-Kalimantan Timur (Chevron), Blok East Kalimantan-Kalimantan Timur (Chevron Indonesia Company), dan Blok North Sumatera Offshore-Aceh (Pertamina).

Wakil Menteri ESDM Arcandra Tahar mengatakan daripada menambah waktu untuk melakukan kajian selama 3 bulan ke depan, dia menyarankan agar perseroan langsung mengembalikan Blok East Kalimantan bila pengembangannya dianggap tidak sesuai skala ekonomi.

Menurutnya, Kementerian ESDM baru saja menerima surat usulan dari Pertamina dua pekan lalu. Saat ini, pihaknya belum memberikan jawaban secara resmi kepada perseroan.

“Jadi untuk yang East Kalimantan, kita menyarankan kalau seandainya tidak ekonomis, langsung dikembalikan ke pemerintah,” ujarnya, Rabu (5/7).

Bila Pertamina segera mengembalikan Blok East Kalimantan, pemerintah segera melakukan lelang agar bisa menjaring pelaku usaha lain yang berminat. Adapun, wilayah kerja di lepas pantai itu akan berakhir masa kontraknya pada 24 Oktober 2018. Sejak awal 2016, Chevron sebagai operator telah menyatakan tidak akan melakukan perpanjangan kontrak. 

“Karena waktu sangat ketat, kami menginginkan, kalau tidak ekonomis, kita percepat lelang.” 

Sebelumnya, Direktur Hulu Pertamina Syamsu Alam mengatakan, pihaknya telah menyerahkan hasil kajian pengembangan tujuh wilayah kerja yang akan habis masa kontraknya dan beralih menjadi gross split.

Peralihan dari kontrak bagi hasil cost recovery menjadi gross split menyebabkan kontraktor tidak bisa lagi mendapatkan pengembalian biaya operasi. Dengan begitu, seluruh beban biaya yang dikeluarkan menjadi tanggungan kontraktor dan bagi hasil yang ditetapkan dengan pemerintah telah mengakomodasi seluruh kemungkinan biaya yang akan dikeluarkan.

Perseroan mengusulkan penambahan masa kajian lagi untuk 3 bulan. Bila pemerintah setuju, perseroan akan mengkaji keekonomian pengembangan East Kalimantan. Namun, bila pemerintah tidak setuju, pihaknya mengembalikan East Kalimantan. 

“Perpanjangan kajiannya 3 bulan dari Juni sampai September sudah kami sampaikan."

Bisnis Indonesia, Page-22, Thursday, July 6, 2017

Easy incentives

The contract contractor proposes that Fiscal Incentives in the form of tax facilities can be obtained easily.

Contractors incorporated in the Indonesian Petroleum Association (IPA) highlighted the Government Regulation No.27 / 2017 regarding the amendment of Government Regulation No.79 / 2010 concerning Income Tax and Refund of Operating Costs. 

     IPA Executive Director Marjolijn Wajong said it appreciated the government's efforts to provide incentives despite not including all proposals of business actors, ie all upstream oil and gas activities are not subject to additional taxes or applying the principle of assume and discharge.

According to him, government efforts to buy tax facilities cause uncertainty. The reason, for the stages of exploitation is only a certain field that can pay tax facilities. Implementation of taxation for the exploratory contractor is still waiting for further regulations from the Ministry of Finance in order to enjoy the facilities taxation.

For the work areas still in exploration stage, Marjolijn said, this regulation change could trigger the rise of new oil and gas reserves. For work areas that are already in the exploitation or production phase, he hopes that the government will set an easy condition to obtain fiscal incentives.

The reason is that, before the wassuance of Government Regulation 79/2010, the contractor did not need to bear additional tax burden. "Exploitation is still possible to tax facilities but have to ask the government first, not automatically For the exploitation of the conditions are easy, so do not be too complicated," he said.

In a copy of Government Regulation No. 27/2017, on Refundable Operating Costs and the Treatment of Income Taxes in the Upstream Oil and Gas Business Sector, the government is amending and amending certain provisions. Existing contracts using production sharing contract (PSC) remain valid until the contract term expires.

Meanwhile, contractors contracted before the Oil and Gas Law No. 22/2001 were signed, before and after the enactment of Government Regulation 79/2010 have the option to make adjustments no later than six months after the publication was published.

Possible adjustments are the scaling of the profit sharing scheme into a dynamic split-sharing scheme as set forth in article 10A. The implementation of this dynamic revenue-sharing scheme will then accommodate the oil price factor so that the contractor's activities can remain profitable. Then, adjustment related tax facilities for exploration and exploitation activities.

The facilities will be given by the Minister of Finance on the consideration of the project's economy and the Minister of Energy and Mineral Resources. As a result, other contractors without consideration of the field economy in accordance with the criteria of the government can not enjoy the facilities taxation.

Separately, EMR Vice Minister of Arcandra Tahar acknowledged that PP 27/2017 did not accommodate the entrepreneur's wishes fully. However, it is the maximum effort that the government has made to increase exploration and exploitation activities. Because the regulation is not only involving the Ministry of Energy and Mineral Resources, but the Ministry of Finance.

The national upstream oil and gas investment tends to decline since 2013. The realization of investment of US $ 20.3 billion in 2013 and 2014, fell to US $ 15.3 billion in 2015 and to US $ 11.1 billion in 2016.

Investing interest in new working areas also fell especially in 2016 in the absence of new signed cooperation contracts and 17 Work Areas offered.

Fiscal Incentives in oil and gas exploration activities

1. Exemption of import duty.

2. Incentives Value Added Tax (VAT) and Sales Tax on Luxury Goods (PPnBM) on the acquisition of certain taxable goods or services.

3. Incentives Value Added Tax (VAT) & Sales Tax (VAT) on import of certain taxable goods.

4. Value Added Tax Incentives (VAT) & Sales Tax (VAT) on the utilization of intangible taxable goods from outside the customs area.

5. Incentive Value Added Tax (VAT) and Sales Tax (VAT) on the utilization of certain taxable services from outside the customs area.

6. The exemption of the withholding of Income Tax (PPh) Article 22 on imports of goods and deductions of Land and Building Tax (PBB) is 100% payable stipulated in the Annual Income Tax Return (SPPT).

IN INDONESIA

Permudah lnsentif

Kontraktor kontrak kerja sama mengusulkan agar insentif Fiskal berupa fasilitas perpajakan bisa diperoleh dengan mudah.

Kontraktor yang tergabung dalam Indonesian Petroleum Association (IPA) menyoroti secara khusus Peraturan Pemerintah (PP) No. 27/2017 tentang perubahan PP No.79/2010 tentang Pajak Penghasilan dan Pengembalian Biaya Operasi. 

     Direktur Eksekutif IPA Marjolijn Wajong mengatakan pihaknya mengapresiasi upaya pemerintah untuk memberikan insentif meskipun belum memasukkan seluruh usulan pelaku usaha, yakni semua kegiatan hulu migas tidak dibebankan pajak-pajak tambahan atau menerapkan prinsip assume and discharge.

Menurutnya, upaya pemerintah untuk membelikan fasilitas perpajakan menimbulkan ketidakpastian. Pasalnya, untuk tahapan eksploitasi hanya lapangan tertentu yang bisa memperoIeh fasilitas perpajakan. Implementasi perpajakan bagi kontraktor eksplorasi pun masih menunggu aturan lebih Ianjut dari Kementerian Keuangan agar bisa menikmati fasilitas perpajakan.

Bagi wilayah kerja yang masih dalam tahap eksplorasi, kata Marjolijn, perubahan peraturan ini bisa  menjadi pemicu naiknya kegiatan pencarian cadangan minyak dan gas baru. Bagi wilayah kerja yang sudah dalam tahap eksploitasi atau produksi, dia berharap agar pemerintah menetapkan syarat yang mudah untuk memperoleh insentif fiskal.

Pasalnya, sebelum PP 79/2010 terbit, kontraktor tidak perlu menanggung beban pajak tambahan. "Eksploitasi tetap ada kemungkinan dapat fasilitas perpajakan tapi harus minta ke pemerintah dulu, tidak otomatis. Untuk yang eksploitasi dipermudah syaratnya. Jadi jangan terlalu rumit," ujarnya 

Dalam salinan Peraturan Pemerintah Nomor 27/2017, tentang Biaya Operasi yang Dapat Dikembalikan dan Perlakuan Pajak Penghasilan di Bidang Usaha Hulu Minyak dan Gas Bumi, pemerintah mengganti dan mengubah beberapa ketentuan. Kontrak eksisting menggunakan kontrak bagi hasil (production sharing contract/PSC) tetap berlaku hingga masa kontrak berakhir.

Adapun, kontraktor yang berkontrak sebelum Undang-Undang Migas No.22/2001 diteken, sebelum dan sesudah PP 79/2010 terbit memiliki pilihan untuk melakukan penyesuaian paling lambat enam bulan setelah beleid tersebut terbit. 

Penyesuaian yang mungkin dilakukan yakni pengubahan skema bagi hasil menjadi skema bagi hasil dinamis atau sliding scale split seperti yang diatur dalam pasal 10A. Penerapan skema bagi hasil dinamis ini nantinya mengakomodasi faktor harga minyak sehingga kegiatan kontraktor bisa tetap menguntungkan. Kemudian, penyesuaian terkait fasilitas perpajakan bagi kegiatan eksplorasi maupun eksploitasi.  

Fasilitas tersebut akan diberikan Menteri Keuangan atas pertimbangan keekonomian proyek dan Menteri Energi dan Sumber Daya Mineral. Alhasil, kontraktor lain tanpa pertimbangan keekonomian lapangan yang sesuai dengan kriteria pemerintah tidak bisa menikmati fasilitas perpajakan.

Terpisah, Wakil Menteri ESDM Arcandra Tahar mengakui PP 27/2017 memang belum mengakomodasi keinginan pelaku usaha sepenuhnya. Namun, hal itu merupakan upaya maksimum yang telah dilakukan pemerintah untuk meningkatkan kegiatan eksplorasi dan eksploitasi. Pasalnya, peraturan ini bukan hanya melibatkan Kementerian ESDM, melainkan Kementenan Keuangan.

Investasi hulu migas nasional cenderung turun sejak 2013. Dari realisasi investasi US$20,3 miliar di 2013 dan 2014, turun menjadi US$15,3 miliar di 2015 dan menjadi US$11,1 miliar di 2016.

Minat investasi pada wilayah kerja baru pun turun terutama pada 2016 dengan tidak adanya kontrak kerja sama baru yang ditandatangani dan 17 Wilayah Kerja yang ditawarkan. 

Insentif Fiskal dalam kegiatan eksplorasi migas

1. Pembebasan pungutan bea masuk.

2. lnsentif Pajak Pertambahan Nilai (PPN) & Pajak Penjualan Atas Barang Mewah (PPnBM) atas perolehan barang atau jasa kena pajak tertentu.

3. lnsentif Pajak Pertambahan Nilai (PPN) & Pajak Penjualan (PPn) terhadap impor barang kena pajak tertentu.

4. Insentif Pajak Pertambahan Nilai (PPN) & Pajak Penjualan (PPn) terhadap pemanfaatan barang kena pajak tidak berwujud dari Iuar daerah pabean.

5. Insentif Pajak Pertambahan Nilai (PPN) & Pajak Penjualan (PPn) terhadap pemanfaatan jasa kena pajak tertentu dari Iuar daerah pabean.

6. Pembebasan pemunhutan Pajak Penghasilan (PPh) Pasal 22 atas impor barang dan pengurangan Pajak Bumi dan Bangunan (PBB) 100% terutang yang tercantum dalam Surat Pemberitahuan Pajak Tahunan (SPPT).

Bisnis Indonesia, Page-3, Thursday, July 6, 2017